MoU to strengthen co-operation between Cambodia and India

The Federation of Associations of Small and Medium Enterprises of Cambodia (FASMEC) is expected to sign a Memorandum of Understanding with the Confederation of Indian Industries (CII) today to strengthen the co-operation on human resource training and quality control, an insider said.

The Sokha, deputy director of FASMEC, said the signing of the MoU between FASMEC and the CII would focus on human resource training and strengthening the quality of goods in the future.

The partnership is key to co-operation in doing business in the future and goes beyond the CII bringing their technology to share with members of FASMEC, which has around 100 members from 15 associations and handicraft groups.

“It will help us at this point, and they will help train our members,” Sokha said adding: “They come and bring their technology to help us. We will discuss later what the training course will be.”

The MoU will pave the way for further discussion on the details such as importing and exporting goods between the two countries.

Meng Saktheara, general director of industry for the Ministry of Industry, Mines and Energy, said this partnership is an important step for seeking a market abroad because India is a huge country, with a large population and big markets.

“This is an important starting step in linking Cambodian SMEs [small and medium enterprises] to countries in other regions in the world, starting with India,” he said.

He warned that in the meantime, the cooperation with outside countries depends on SMEs taking it upon themselves to thrive through strengthening their techniques, enhancing their competitiveness and bringing the quality of their goods up to comply with international standards and to build trust among the partners.

Bilateral trade between Cambodia and India in the year of 2010-2011 was only $71.92 million.

The value of Indian exports to Cambodia reached $63.91 million, while Cambodia’s exports to India only totalled $8.01 million, according to information released in early September during the launch of the Indian Chamber of Commerce in Cambodia.